Copycat — CEX features but with the decentralization and convenience of Web2. What will be the next generation of DEXs?
Copycat DEX is a protocol that combines the functionality of centralized exchanges (CEXs) and the convenience of Web2 services on a decentralized platform.
After the collapse of FTX, the crypto community’s distrust of exchanges has increased, and few severe investors keep capital on CEXs. The crypto community’s «not your keys — not your money” principle is fundamental. As long as the crypto is on an exchange, it technically belongs to the company, not you. Holding funds in an exchange differs from keeping them in an offline bank account. This goes against the ideas of freedom, security, and speed of money transfer at the core of blockchain. For many cryptos, exchanges are a forced middle ground for buying and selling assets. CEXs have valuable features and often a more extensive list of currencies than DEXs. Constantly transferring funds between platforms is inconvenient and unreliable. Today, more than ever before, the crypto world is seeing a battle between exchanges and DEXs.
Copycat DEX perfectly understands the trends and offers to enjoy the benefits of CEXs without having to go through verification and share cryptocurrency wallet keys. The startup also solves serious competitors’ problems. Copycat DEX offers:
- Low commissions. Usually, they exceed 0.1%, but the project reduced them to 0.03%. This feature will attract large traders.
- User convenience. In this aspect, the project surpasses exchanges, offering smooth and easy UX and UI, to which we are accustomed to Web2 services.
- Powerful liquidity mechanisms. The price is less prone to speculation, and tokens go through several stages of scam checking. Copycat DEX considers it particularly important to protect users from fraud.
At the heart of these points are the Point-to-Pool and PvP-AMM principles — technical innovations to optimize trading. At Copycat, DEX dramatically speeds up and cheapens any transaction. The list of additional project features includes:
- Quick opening and closing of positions
- Market and limit orders
- Adding and reducing the margin
- Reminders in 1 click
Copycat DEX is a complex product for complex tasks convenient for daily use. Such high-quality and well-developed projects are not often released in the BNB network; the startup has a high chance of attracting traders' attention and occupying an impressive part of the market. The on-chain derivatives market is a promising niche in the early stages of development and faces many challenges, many of which are solved in the startup. At Copycat DEX, they want to become attractive to the audience of exchanges and classical traders. From the Web2 world, the platform features futures trading and leveraged trading.
In «PvP-AMM» users can quickly and securely provide liquidity to projects and make money from it. At Copycat DEX, they are lowering the barriers to entry for bidding and want to attract a mass audience to DeFi.
The lowest commissions in the industry — a bold statement for a new platform. Innovative mechanisms offer improved distribution of risks and returns and make investments more predictable and profitable. Together with its stated functions, the startup can appeal to several key audience types. Important actors of the business model will be:
- Active traders which are looking for new ways to manage liquidity and positions.
- Investors which are looking for passive income through dividends from holding tokens.
- Developers of DEX and financial instruments which need new mechanisms to attract users and capital.
All of them, of course, will be attracted by the transparency of processes and reduced risk level — Copycat DEX has several on-chain mechanisms to protect funds. The main thing in earning is the commissions that users will pay. By June, more than 50 thousand of them are expected. All of them will need CAT tokens. With their help, it will be possible to:
- Pay for commissions
- Participate in the development of DEX, applying the principles of DAO — complete decentralization
- Stimulate activity and contribution to the development of the project and community.
- Participate in staking and receive additional bonuses.
A team with a severe background is responsible for the quality implementation and smooth operation of many functions. They have the Copycat Finance project with a capitalization of $200 million, 5 to 12 years of work in blockchain and finance, and even a Ph.D. in AI.
Even more impressive is the list of those who believed in this team. You can see Binance labs, BNB chain, Arbitrum, zkSync, OKX wallet, Sui, Optimism, Coingecko, and CoinMarketCap among the partners and investors. Very solid for a young crypto startup!
Also, there are 71 thousand subscribers in X, 16 thousand in Telegram, and more than 11 thousand in Discord.
WeWay Launchpad’s fundraising goal is $200k, with a token price of 0.8 USDT.
IDO date: 16 April, 8:00 UTC.
Registration is open at the link.
